Like many close relationships, our partnership with EvenUp developed over time. We first met Rami Karabibar in a drafty coffee shop in San Francisco in December 2019, when the company was just a few months old. Over the next few years, we kept in touch for several reasons. First, the BCV team intuitively understood the unintentional unfairness of the legal system, where individuals often face overwhelming odds when making claims against powerful groups like large corporations. After all, Aaref had successfully built a legal e-discovery business, Clearwell, before becoming an investor.

More than anything, it was Rami’s passion for “evening up” the playing field for those involved in personal injury cases that kept us engaged over years of coffees, breakfasts and walks. Equally impressive was the team’s execution: every time he shared an update, EvenUp had exceeded the goals Rami had previously laid out. As the company’s progress accelerated, Rami, and his co-founders Raymond Mieszaniec and Saam Mashhad looked for new partners to support the company in the next phase of its development.

After first investing in EvenUp’s Series B, today we are happy to announce that we are doubling down to invest in EvenUp’s $135 million Series D alongside our friends at Premji Invest, Lightspeed Venture Partners, Bessemer Venture Partners, SignalFire and B Capital Group.

EvenUp pioneered a new category of software within the broader market of legal technology (or “legaltech” as it’s affectionately known) and today, they’re the market leader in personal injury AI and document generation. The team deeply understands that personal injury lawyers don’t want software. They want an easier way to deliver fairer outcomes for clients, and that’s exactly what EvenUp provides. By skillfully combining a deep understanding of legal workflows with generative AI, it fully automates one of the core outputs of personal injury attorneys — namely, the creation of demand letters. Previously, it took paralegals and associates hours of work to painstakingly organize, extract and summarize information from documents, medical records, police reports and invoices. Now, with EvenUp, attorneys can achieve a 10x better result in terms of quality, speed, and cost. The product is a clear, early example of generative AI, combined with deep domain expertise.

EvenUp is just getting started. Today, the company is launching four new products as part of its Claim Intelligence Platform, designed to deliver these critical insights at pivotal stages of the case lifecycle, transforming your workflows to maximize claim value as quickly as possible. EvenUp’s Claims Intelligence Platform™ is powered by its AI model, Piai™, which is trained on hundreds of thousands of injury cases and millions of medical records visits.The company’s new suite of products spans across the personal injury case lifecycle, helping with case preparation, negotiation preparation, executive analytics, as well as a repository of historical settlements.

We expect the company to continue its rapid pace of growth. This year alone, the team has shipped more than 50 releases, and EvenUp drafts 1,000+ documents per week for its customers.

We could not be more excited to support the next phase of EvenUp’s growth, and are honored to be part of its mission.

This article is an update of one originally published in June 2023, for the Series B fundraise.